Embracing Sustainable Finance in 2024

News Spotlight

• Crossing the Climate Threshold: 1.5C Limit to be Surpassed in 2024, Warns Ex-NASA Scientist. James Hansen, a pioneering climate scientist, predicts that global temperatures will exceed the critical 1.5C increase above pre-industrial levels by 2024, largely due to fossil fuel emissions and the El Niño effect. Full Story

• Iceland's Bold Leap: Drilling into a Volcano for Limitless Geothermal Energy.

  Iceland is set to pioneer a groundbreaking renewable energy project by 2026 through the Krafla Magma Testbed project, which involves drilling into a volcano's magma chamber. Full Story

• The Future of Renewable Energy: Key Trends to Shape 2024. The BayWa r.e. team outlines four major trends driving renewable energy in 2024: the rise of floating offshore wind in new markets, the growing role of Independent Power Producers (IPPs) in diversifying energy supply, increased demand for Power Purchase Agreements (PPAs) in various sectors, and the crucial role of standalone energy storage in stabilizing power grids. Full Story

• Navigating ESG Regulations: Preparing for 2024's Sustainability Shift. In 2024, companies will face significant changes in sustainability regulations, marking a pivotal shift in environmental, social, and governance (ESG) compliance and strategy. Full Story 

• Extinction Rebellion's Unique Protest in Floods: A Call for Urgent Climate Action. Extinction Rebellion Malvern organized a protest in Worcester and Upton against climate change, symbolically wading knee-deep into floodwaters. They created a scene depicting an office in the flood, highlighting the severity of extreme weather and urging immediate government action. Full Story

Sustainable Finance

• Sustainable Finance on the Rise: Market Forecast to Reach US$ 3.76 Trillion by 2034. The sustainable finance market is estimated to grow to a staggering US$ 3.76 trillion by 2034, propelled by a CAGR of 20.10%. This growth is driven by heightened investor awareness of environmental and social issues, regulatory support, and a focus on ESG factors. Full Story

• Key Developments in Impact Investing and Sustainable Finance (5 Stories) . This page covers five significant stories in impact investing and sustainable finance. Highlights include a report on climate technology investments affected by economic challenges, a substantial shift by investors to cash in early 2024, a lawsuit against BlackRock over its ESG practices, BNP Paribas’ investments in a climate impact fund, and KKR’s 2024 outlook emphasizing the need for investment in both decarbonization and traditional energy sources. Full Story

• Sustainable Banking's Bright Future Amid Global Challenges. The banking sector, despite facing significant disruptions in recent years, is finding a lucrative opportunity in sustainable finance. A shift towards sustainability is being increasingly incorporated into banks' strategic frameworks. Full Story

• Three key sustainable finance trends for 2024. The introduction of ESG assurance mandates for corporations, the growing significance of transition finance in clean energy investment, and the development of metrics for natural capital and biodiversity investment. Full Story

• DOE Allocates $70 Million to Bolster Energy Infrastructure Against Cyber Threats. The U.S. Department of Energy (DOE) is dedicating $70 million to develop technologies that enhance the resilience of energy delivery infrastructure against cyber threats and other risks. Full Story

Technology & Solutions

• Microsoft and Qcells Announce Major Deal for US-Made Solar Panels. Microsoft has struck a significant deal with South Korea's Qcells for the supply of 12 gigawatts of American-made solar panels through 2032. Full Story

• Panasonic Showcases Sustainability-Centric Consumer Tech at CES 2024. Panasonic unveils a range of sustainable and consumer-centric technologies at CES 2024, highlighting its Green Impact Initiative. Full Story

• 2024 Outlook for Europe’s Climate Tech: Challenges and Opportunities. Despite a 40% investment decline in 2023, Europe's climate tech sector remains hopeful for 2024. Full Story

• New York City Emerges as a Leading Hub for Climate Tech Innovation. New York City is rapidly becoming a major center for climate technology, challenging Silicon Valley's dominance. Full Story

• Climate Tech Investment Dips in 2023, Yet Shows Resilience Post-COVID. In 2023, climate tech funding experienced a 30% decrease, totaling $32 billion, marking the first annual drop in the post-pandemic period. Full Story

Q&A

• Q1: What Historic Event First Triggered Global Awareness About Climate Change?

• Q2: What Are Scientists Predicting for Our Planet's Climate by 2100?

  _{Kindly peruse the content below to access the answers.*}

RECs

• Local Produce Challenge: This week, try buying only locally sourced produce. It's fresher and reduces transportation emissions!

• Home Energy Quick Check: Spend a few minutes checking your home's energy use. Small changes like using LED bulbs can make a big difference.

• Plastic-Free Day: Can you avoid single-use plastics for a day? Use reusable items and help fight plastic pollution.

• Water-Saving Tips: Be mindful of water use this week. Shorter showers and fixing leaks can conserve this precious resource.

• Eco-Volunteering: Get involved in a local environmental volunteering activity, like tree planting or a beach cleanup, and make a positive impact on our community.

The Q&A Answers are:

• A1: The first major global awakening to the issue of climate change occurred in 1988, when NASA scientist Dr. James Hansen testified before the U.S. Congress, declaring with high confidence that climate change was already happening. Dr. Hansen's testimony, based on robust climate models and temperature data, was pivotal in bringing the issue of global warming to the forefront of public and political discourse. This event marked a significant moment in history, leading to the establishment of the Intergovernmental Panel on Climate Change (IPCC) by the United Nations later that year, signifying the beginning of a global effort to understand and address climate change.

• A2: Scientists predict several possible scenarios for the Earth's climate by 2100, depending largely on our actions today. If greenhouse gas emissions continue at the current rate, we could see a global temperature increase of up to 4°C. This would lead to devastating consequences, including extreme weather events, sea-level rise, severe droughts, loss of biodiversity, and significant impacts on human health and agriculture. However, if we significantly reduce emissions and move towards sustainable practices, we can limit the temperature increase to below 2°C, greatly mitigating these risks.

Did you Know?
Did you know according to the GSIA Trends Report 2020 as of 2020, sustainable investments soared to $35.3 trillion, over a third of global assets under management. This 15% rise since 2018 highlights a major shift towards environmentally and socially responsible investing. Sustainable Finance is reshaping the investment world! 🌍💰📈

With Inspiring Climate Activists

Xiye Bastida Patrick is a prominent Mexican-Chilean climate activist known for her strong advocacy for Indigenous rights and climate justice. Raised in an Otomi-Toltec community, she experienced firsthand the impacts of environmental change. Moving to New York, she became a leading figure in the "Fridays for Future" movement. Bastida's achievements include delivering a TED Talk titled "Why I Fight for Climate Justice" and receiving the "Spirit of the UN" award in 2018. Her work highlights the importance of intersectionality in climate activism and inspires global youth involvement. watch her Video here.

Main Events in 2024
Here are some of the major sustainability and climate change events scheduled for 2024:

1. WEF (January 15–19, 2024): Focused on "A Long-Term Strategy for Climate, Nature, and Energy," this gathering is known for bringing together global leaders to discuss pressing issues in Davos.

2. Innovation Zero (April 30 to May 01, 2024): An event showcasing the latest in climate technology and convening entrepreneurs, investors, and policymakers to push forward net-zero emissions solutions.

3. World ESG and Climate Summit (June 18-19, 2024): This summit brings together global leaders, experts, and stakeholders to address challenges and opportunities related to sustainability and ESG practices.

4. Climate Week NYC – We Can (October 23-31, 2024): An annual event that showcases climate action and accelerates the transition to a net-zero future with world leaders, policymakers, businesses, and citizens.

5. COP29 (November 6-18, 2024): The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change, set to take place in Baku, Azerbaijan.

   *also read Top 10 must-attend sustainability events in 2024.

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